Quaker Chemical Corporation (NYSE: KWR) announced that it recently acquired the remaining 45% ownership interest in its India joint venture, Quaker Chemical India Private Limited (QCIL), from its joint venture partner, Asianol Lubricants Private Limited. QCIL sells products to the steel and metalworking industries in India and has associates based in various locations around India. Quaker had been a joint venture partner in QCIL for 20 years.
Michael F. Barry, Chairman, Chief Executive Officer and President, commented, “India is a market with strong growth opportunities in most of our business lines. This acquisition, along with our new plant in Dahej to be completed in 2018, further strengthens our position in India and allows us to simplify our overall corporate structure and improve our organizational efficiencies.”
Quaker Chemical is a leading global provider of process fluids, chemical specialties, and technical expertise to a wide range of industries, including steel, aluminum, automotive, mining, aerospace, tube and pipe, cans, and others. For nearly 100 years, Quaker has helped customers around the world achieve production efficiency, improve product quality, and lower costs through a combination of innovative technology, process knowledge, and customized services. Headquartered in Conshohocken, Pennsylvania USA, Quaker serves businesses worldwide with a network of dedicated and experienced professionals whose mission is to make a difference.